Customer Relationship Management (CRM)
Strategic CRM concentrates upon the development of a customer-centric business culture.
The focus of a business on being customer-centric (in design and implementation of their CRM strategy) will translate into an improved CLV.
The primary goal of CRM systems is integration and automation of sales, marketing, and customer support. Therefore, these systems typically have a dashboard that gives an overall view of the three functions on a single customer view, a single page for each customer that a company may have. The dashboard may provide client information, past sales, previous marketing efforts, and more, summarizing all of the relationships between the customer and the firm. Operational CRM is made up of 3 main components: sales force automation, marketing automation, and service automation.
Sales force automation works with all stages in the sales cycle, from initially entering contact information to converting a prospective client into an actual client. It implements sales promotion analysis, automates the tracking of a client's account history for repeated sales or future sales and coordinates sales, marketing, call centers, and retail outlets. It prevents duplicate efforts between a salesperson and a customer and also automatically tracks all contacts and follow-ups between both parties.
Marketing automation focuses on easing the overall marketing process to make it more effective and efficient. CRM tools with marketing automation capabilities can automate repeated tasks, for example, sending out automated marketing emails at certain times to customers, or posting marketing information on social media. The goal with marketing automation is to turn a sales lead into a full customer. CRM systems today also work on customer engagement through social media.
Service automation is the part of the CRM system that focuses on direct customer service technology. Through service automation, customers are supported through multiple channels such as phone, email, knowledge bases, ticketing portals, FAQs, and more.
The role of analytical CRM systems is to analyze customer data collected through multiple sources and present it so that business managers can make more informed decisions. Analytical CRM systems use techniques such as data mining, correlation, and pattern recognition to analyze the customer data. These analytics help improve customer service by finding small problems which can be solved, perhaps by marketing to different parts of a consumer audience differently. For example, through the analysis of a customer base's buying behavior, a company might see that this customer base has not been buying a lot of products recently. After scanning through this data, the company might think to market to this subset of consumers differently, to best communicate how this company's products might benefit this group specifically.
The third primary aim of CRM systems is to incorporate external stakeholders such as suppliers, vendors, and distributors, and share customer information across groups/departments and organizations. For example, feedback can be collected from technical support calls, which could help provide direction for marketing products and services to that particular customer in the future.
Customer data platform
Main article: Customer data platform
A customer data platform (CDP) is a computer system used by marketing departments that assembles data about individual people from various sources into one database, with which other software systems can interact. As of February 2017 there were about twenty companies selling such systems and revenue for them was around US$300 million.
Ely (/ˈiːli/ (About this soundlisten) EE-lee) is a cathedral city in Cambridgeshire, England, about 14 miles (23 km) north-northeast of Cambridge and about 80 miles (129 km) by road from London. Æthelthryth (also known as Etheldreda) founded an abbey at Ely in 673; the abbey was destroyed in 870 by Danish invaders and was rebuilt by Æthelwold, Bishop of Winchester, in 970. Construction of the cathedral was started in 1083 by a Norman abbot, Simeon. Alan of Walsingham's octagon, built over Ely's nave crossing between 1322 and 1328, is the "greatest individual achievement of architectural genius at Ely Cathedral", according to architectural historian Nikolaus Pevsner. Building continued until the dissolution of the abbey in 1539 during the Reformation. The cathedral was sympathetically restored between 1845 and 1870 by the architect George Gilbert Scott. As the seat of a diocese, Ely has long been considered a city; in 1974, city status was granted by royal charter.
Ely is built on a 23-square-mile (60 km2) Kimmeridge Clay island which, at 85 feet (26 m), is the highest land in the Fens. Major rivers including the Witham, Welland, Nene and Great Ouse feed into the Fens and, until draining commenced in the 17th century, formed freshwater marshes and meres within which peat was laid down. There are two Sites of Special Scientific Interest in the city: a former Kimmeridge Clay quarry, and one of the United Kingdom's best remaining examples of medieval ridge and furrow agriculture.
The economy of the region is mainly agricultural. Before the Fens were drained, the harvesting of osier (willow) and sedge (rush) and the extraction of peat were important activities, as were eel fishing—from which the settlement's name may have been derived—and wildfowling. The city had been the centre of local pottery production for more than 700 years, including pottery known as Babylon ware. A Roman road, Akeman Street, passes through the city; the southern end is at Ermine Street near Wimpole and its northern end is at Brancaster. Little direct evidence of Roman occupation in Ely exists, although there are nearby Roman settlements such as those at Little Thetford and Stretham. A coach route, known to have existed in 1753 between Ely and Cambridge, was improved in 1769 as a turnpike (toll road). The present-day A10 closely follows this route; a southwestern bypass of the city was built in 1986. Ely railway station, built in 1845, is on the Fen Line and is now a railway hub, with lines north to King's Lynn, northwest to Peterborough, east to Norwich, southeast to Ipswich and south to Cambridge and London.
The King's School is a coeducational boarding school which was granted a royal charter in 1541 by Henry VIII; the school claims to have existed since 970. Henry I granted the first annual Fair, Saint Audrey's (or Etheldreda's) seven-day event, to the abbot and convent on 10 October 1189; the word "tawdry" originates from cheap lace sold at this fair. Present-day annual events include the Eel Festival in May, established in 2004, and a fireworks display in Ely Park, first staged in 1974. The city of Ely has been twinned with Denmark's oldest town, Ribe, since 1956. Ely City Football Club was formed in 1885.